WesternOne Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue from continuing Operations of $14.1 million compared to $12.7 million a year ago. Adjusted LBITDA was $1.8 million compared to adjusted LBITDA of $0.2 million a year ago. Net loss from continuing operations was $9.8 million or $0.58 per share compared to $19.1 million or $16.87 per share a year ago. Net loss was $12.5 million or $0.74 per share compared to $26.2 million or $23.16 per share a year ago. Net cash from operating activities of continuing operations was $5.6 million, an increase of 97.0% from $2.8 million in the prior year period. The increase was mainly due to incremental cash flow from collection of accounts receivable relating to the Heat rental division which benefited from cooler regional temperatures in the early part of 2017. Net CapEx of $1.2 million.

For the six months, the company reported revenue from continuing Operations of $40.2 million compared to $35.0 million a year ago. Adjusted EBITDA was $4.4 million compared to $6.1 million a year ago. Net loss from continuing operations was $14.6 million or $0.86 per share compared to $18.3 million or $16.16 per share a year ago. Net loss was $17.4 million or $1.03 per share compared to $26.5 million or $23.42 per share a year ago.

The company expect capital expenditures for the second half of 2017 to remain replacement focused and net expenditure will be 0 as purchases will be funded through disposals. And additional CapEx of up to $3 million primarily relating to heat equipment may be deployed as outcomes of several heat project bids are slated to be announced in early to mid-September.